Riding high on the increased growth of the readymade garments (RMG) sector, Bangladesh’s export earnings in the July-February period of the financial year of 2015-16 rose by 8.92 per cent, totalling US$ $22.12 billion as against export earnings of US$ 20.03 billion in the same period of the FY 2014-15.
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According to the provisional data of the Export Promotion Bureau (EPB), woven sector’s contribution in the total US$ $22.12 billion earnings in the July-Feb period was US $9.48 billion, while the knitwear sector accounted for US $8.64 billion.
The EPB’s provisional data further stated that the earnings in February of FY16 grew by 13.60 per cent to US $ 2.85 billion from that of US$ 2.51 billion in the same month of FY15, underlining that the single-month earnings surpassed the Government-set target of Us $2.7 billion by 4.90 per cent.
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Commenting on the garment sector’s contribution towards this growth, Vice-President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA) Mahmud Hassan Khan Babu reportedly told a daily newspaper that ‘the growth was encouraging and the sector would perform better in the coming months as the global demand was on the rise and the factories took safety measures’.
“To achieve the US$50 billion export target by 2021, the sector needs 12 per cent growth and I hope it would possible to attain the growth,” the BGMEA Vice-President said while underlining that due to the devaluation of the euro against the US dollar, the export earnings witnessed lower growth in the last couple of months but the sector people were optimistic to retain the required growth as the volume of exports had increased.
Bharat Tex Special Report 2026 
